Dynagreen(SH:601330)2021-03-30 16:00Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.2 per share (pre-tax) to all shareholders based on the total share capital on the dividend distribution registration date[6]. - The company plans to pay a final dividend of RMB 0.2 per share, totaling RMB 27,868.80 million, subject to approval at the upcoming annual general meeting[158]. - In 2020, the company distributed cash dividends amounting to RMB 27,869,000, representing 55.36% of the net profit attributable to ordinary shareholders[181]. - The company has a cash dividend policy that mandates a minimum of 10% of the distributable profit to be distributed in cash each year, with a cumulative distribution of at least 30% over the last three years[179]. Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a 15% year-over-year growth[34]. - The company's operating revenue for 2020 was RMB 2,277,618,815, representing a 29.97% increase compared to RMB 1,752,449,088.97 in 2019[46]. - The net profit attributable to shareholders for 2020 was RMB 503,385,543.61, a 20.98% increase from RMB 416,088,473.60 in 2019[46]. - The net profit attributable to shareholders was RMB 528 million, representing a year-on-year growth of 26.77%[57]. - The total comprehensive income attributable to the parent company's shareholders for the reporting period was RMB 521,980,684.71, an increase from RMB 416,084,841.90 in the same period of 2019, primarily due to the increase in net profit[155]. Project Development and Capacity Expansion - Five projects, including expansion in Haining and Huizhou Phase II, were completed and put into operation, adding a waste processing capacity of 5,700 tons/day, achieving the "13th Five-Year" planning goals ahead of schedule[17]. - The company successfully acquired 87.5% of the equity of Laizhou Haikang Environmental Energy Co., Ltd., which plans to build a waste incineration power plant with a capacity of 1,500 tons/day[16]. - The company signed a concession agreement for the Wuhan Phase II project, which will add a waste processing capacity of 1,000 tons/day and kitchen waste processing capacity of 200 tons/day[24]. - The company processed 9.3267 million tons of waste and straw, an increase of 23.57% compared to the previous year[57]. - The company added a processing capacity of 7,200 tons per day, marking a historical high[57]. - As of December 31, 2020, the company operated 26 waste-to-energy projects with a total waste processing capacity of 27,000 tons per day and an installed capacity of 539 MW[61]. Research and Development - Research and development investments increased by 25%, totaling 150 million RMB, focusing on sustainable energy technologies[34]. - In 2020, the company obtained 3 new patent authorizations, bringing the total to 65, including 15 invention patents[91]. - The company’s R&D expenses decreased by 28.72% to RMB 7,603,578.05, compared to RMB 10,667,001.22 in the previous year[94]. Market Expansion and Strategic Initiatives - The company is expanding its market presence, with plans to enter three new provinces by Q3 2024[34]. - A new strategic partnership was announced, expected to generate an additional 50 million RMB in annual revenue[34]. - The company is exploring potential acquisitions to enhance its service offerings, targeting a deal valued at approximately 300 million RMB[34]. - The company aims to strengthen its position in the waste-to-energy industry by expanding into new projects and leveraging existing facilities for synergistic benefits[141]. Environmental and Regulatory Compliance - The company is facing risks related to environmental policies, which may increase operational costs due to stricter regulations and standards[146]. - The company has implemented measures to ensure compliance with environmental standards, including air and noise pollution control[151]. - The company is adapting to changes in renewable energy subsidy policies, which could negatively impact profitability and cash flow[145]. - The company is focused on enhancing operational efficiency in existing projects to mitigate the impact of rising environmental compliance costs[146]. Financial Position and Cash Flow - The total assets at the end of 2020 were RMB 17,446,071,422.38, reflecting a 27.62% increase from RMB 13,670,787,404.47 at the end of 2019[46]. - The net cash flow from operating activities for 2020 was RMB 230,035,074.55, a significant recovery from a negative RMB 48,189,535.55 in 2019[46]. - The company's monetary funds reached RMB 1,608,061,795.80, an increase of 272.12% compared to the previous year, primarily due to the completion of a non-public offering in November 2020[68]. - The company’s cash flow from operating activities was RMB 230,035,074.55, a significant improvement from a negative cash flow of RMB -48,189,535.55 in the previous year[94]. Risk Management - The company is actively seeking alternative waste and non-polluting fuel sources in case of insufficient waste supply or low calorific value[150]. - The company is closely monitoring policy changes and will adjust its operational strategies accordingly to maintain stability in revenue sources[147]. - The company has a strategy to maintain sufficient credit lines with banks and explore equity financing to reduce the asset-liability ratio[152]. Corporate Governance and Compliance - The company appointed KPMG Huazhen LLP as the auditor for the 2020 fiscal year, with an audit fee of RMB 2.45 million[194]. - The internal control audit was also conducted by KPMG Huazhen LLP, with a fee of RMB 500,000[198]. - The company has not faced any risks of suspension or termination of listing during the reporting period[199]. - There were no significant changes in the company's financial condition or performance compared to the previous year[192].